Daft Property - Irish Property News

New York, Hundreds of thousands of revelers rang in 2009 from frigid Times Square as the famous Waterford crystal ball dropped, signaling the end of a historic and troubled year that saw the election of the first black U.S. president and the worst economic crisis in decades. As the clock struck midnight, a ton of confetti rained down while the partygoers hugged and kissed. The wind chill made it feel like 1 degree (-17 Celsius) in the area, but that didn't deter the throngs who were cloaked in fur hats and sleeping bags. "We're worried about the economy but hoping for the best," said Lisa Mills, of Danville, Ohio, visiting Times Square on Wednesday night with her husband, Ken, and 17-year-old daughter, Kara. Former President Bill Clinton and Sen. Hillary Clinton, who will become President-elect Barack Obama's secretary of state on Jan. 21, helped Mayor Michael Bloomberg lower the the famous Waterford crystal ball atop 1 Times Square for the countdown to midnight.

The grand house of cards comes tumbling down... The engine of the economic boom came grinding to a halt this year, but optimists hope the housing collapse is near bottom... MAYBE, JUST maybe, people will look back on 2008 as the year in which they should have bought property. A few years from now, when the economic gloom has lifted, today's prices - down as much as 40 per cent from the peak of 2006 - might seem like so many missed opportunities for first-time buyers and trader-uppers. If that sounds like something that a property journalist would say, then consider Warren Buffet's oft-quoted advice to investors: "Be fearful when others are greedy, and be greedy when others are fearful." Right now, people in the Irish property market are very fearful. A combination of tumbling prices, banks refusing to lend and fast-eroding job security has created an atmosphere in which people are afraid to commit to buying even a sofa, never mind a home. "It's carnage out th

Dublin 4 property market to float — with houseboats... The Docklands Development Authority says the vessels would ‘contribute to life along the water’s edge’... THE DUBLIN 4 property market could soon get an injection of liquidity. The Dublin Docklands Development Authority (DDDA) has recommended that houseboats be allowed to moor at Pigeon House Harbour in Ringsend. The DDDA’s draft master plan has advised that houseboats would “contribute to life along the water’s edge” and should be “actively encouraged” to set up at the disused harbour. The Inland Waterways Association of Ireland (IWAI) has welcomed the proposal, calling for the DDDA to adopt specific policies encouraging the establishment of a “live aboard” community in Dublin 4. Derek Whelan, a spokesman for the IWAI, said: “The harbour is an ideal location as it’s sheltered and near the city centre.” Although there are about 10,000 privately owned coastal and inland vessels in Ireland, it is estimated that fewer than 100 people

The latest house price figures, which show prices falling by 0.5pc in November, seriously underestimate the true extent by which prices have fallen. And there is almost certainly more bad news to come in the New Year. Every month, mortgage bank Permanent TSB publishes its index of house prices. The index, which is compiled by the ESRI and has shown a decline in house prices for every month since March 2007, is generally regarded as being the most authoritative and up-to-date source of information on the state of the Irish housing market. foolproof Unfortunately, the Permo numbers are not foolproof. They are based on completed house prices during the month. With huge stocks of unsold new and second-hand houses on the market, and up to 18-months supply at current levels of demand by some estimates, sales are taking much longer to close than they used to. What this means is that the Permo numbers reflect sales that were agreed four, five or six months ago, as far back as last May or June,

Will your home pass the test?... From next month, all houses on the market will have to have a Building Energy Rating certificate. What does this mean for homeowners, renters and landlords? WHEN THE Building Energy Rating (BER) assessor came by it was a cold two degrees outside and we were all wearing our fleeces indoors - even with the blinds down, curtains drawn and the heating on. Good recyclers and energy-conscious home owners, we thought we'd do okay. We knew we would be nowhere close to the top of the scale but we thought we might scrape through with a D. The house was partially carpeted. We had blinds on our double-glazed windows and draught proofing on the front doors. However, the assessor, James Carroll of greenthinking.ie, explained how the cavity walls were letting cold air in. Pumping polystyrene bead insulation into the cavities would be the only way to reduce this huge loss of heat, he explained. Meanwhile, our stylish flame-effect gas fires were merely cosmetic, he

AS CHRISTMAS and 2009 loom some vendors are cutting prices to get buyers off the fence . Number 7 Claremont Road in Howth has a new asking price of €3.75m, down from €4.8m, a drop of €1.05m or 22 per cent. For sale through Savills, the four-bed Georgian-style home first came on the market in August. It ticks all the boxes for a trophy home with 418sq m (4,500sq ft) of space and three large reception rooms. A large basement could be used as a gym, music room or home cinema. Gunne Residential is asking €1.95m for an Edwardian semi - 4 Proby Square off Carysfort Avenue in Blackrock, Co Dublin - which is a 29 per cent drop from the original price of €2.75m. The house has been on the market a number of times in the past five years. In September 2003 it sold for €1.625m with 0.25 acres of rear and side garden with development potential. The following year the house sold with a substantially reduced garden for €1.5m. The six-bed, 300sq m (3,200sq ft) house is in a cul-de-sac. Gunne Residentia

Try it, and if you like it, then buy it... Could a rent-to-buy housing scheme that helps first-time buyers get on the ladder help stabilise the new homes market, asks Róisín Carabine... A rent-to-buy scheme that allows prospective buyers to lease a new home with the option to buy later, using part of the rent towards the purchase, is growing in popularity with first-time buyers and developers as the credit crunch worsens and residential sales stagnate. Seán Power of Rent2Buy in Ballincollig, who first introduced the scheme to Ireland three years ago, says interest has more than doubled in the last few weeks, with 1,200 first-time buyers now registered on its database. "Of those who have recently signed up, the majority – around one in six – want to buy and live in and around Dublin. We've a number of buyers particularly interested in the Swords area," says Power, who plans to match 1,000 prospective buyers with homes in 2009. The scheme was first launched at The Beeches,